Solana Forms Bearish Chart Pattern

Solana Forms Bearish Chart Pattern CryptoProwl Wed, June 24, 2026 at 6:34 PM GMT+2 1 min read SOL-USD DX-Y. NYB Solana Forms Bearish Chart Pattern Solana (CRYPTO: $SOL) has formed a bearish chart pattern, indicating that more price declines could be in store for the cryptocurrency. Specifically, SOL has formed a negative double-top pattern after failing twice to break above resistance at $75 U.

S. Analysts say that weakening network activity and risk-off sentiment among investors is keeping Solana's price down. More From Cryptoprowl: Ripple, The Company Behind XRP, Is Valued At $50 Billion Eightco Secures $125 Million Investment From Bitmine And ARK Invest, Shares Surge Blockchain Projects Decline 75% As Developers Shift To A.

I. Stanley Druckenmiller Says Stablecoins Could Reshape Global Finance New York Stock Exchange Invests $600 Million In Polymarket SOL is trading at $68. 40 U.

S. early on June 24. That's down from a high of $75 U.

S. reached last week. Reduced activity across the Solana ecosystem has added pressure to the digital asset's price, with decentralized exchange volumes and network fee generation falling.

At the same time, macro conditions remain unfavorable for risk assets such as crypto. Expectations that the U. S.

Federal Reserve will raise interest rates in coming months has strengthened the U. S. dollar and weighed on speculative assets such as Solana.

Charts show that Solana is on the cusp of forming a bearish double-top structure with a peak of $75 U. S. reached on June 16.

A neckline formed around $68 U. S. , and SOL's price has now broken below that support level.

The chart pattern implies 12% downside from current levels for Solana, with the price possibly falling all the way to $60 U. S. Additionally, momentum indicators remain weak for Solana, with its Relative Strength Index (RSI) hovering near 42 and remaining below its trend line.

It all adds up to more downside risk for SOL, say analysts, some of whom are urging investors to wait to buy the digital asset at a more favourable price.